OMNI-LITE INDUSTRIES REPORTS THIRD QUARTER AND YEAR-TO-DATE FISCAL 2024 RESULTS
Omni-Lite Industries reported Q3 2024 results with revenue of US$3.8 million, a 14% increase year-over-year, driven by growth in electronic components and fasteners businesses. Adjusted EBITDA was US$187,000, down from US$278,000 in Q3 2023, impacted by an unexpected casting equipment outage. Free Cash Flow improved to US$636,000, up US$387,000 from last year. The company maintains a strong balance sheet with US$2.6 million in cash and no debt. Year-to-date revenue reached US$12.4 million, up 36%, with bookings of US$3.9 million and a book-to-bill ratio of 1.03.
Omni-Lite Industries ha riportato i risultati del terzo trimestre 2024, con entrate di 3,8 milioni di dollari USA, un incremento del 14% rispetto allo scorso anno, alimentato dalla crescita nei settori dei componenti elettronici e degli accessori. L'EBITDA rettificato è stato di 187.000 dollari USA, in calo rispetto ai 278.000 dollari USA del terzo trimestre 2023, influenzato da un'imprevista interruzione nell'uso di attrezzature per colate. Il Flusso di Cassa Libero è migliorato a 636.000 dollari USA, con un incremento di 387.000 dollari USA rispetto allo scorso anno. L'azienda mantiene un bilancio solido con 2,6 milioni di dollari USA in contanti e senza debiti. Le entrate da inizio anno hanno raggiunto i 12,4 milioni di dollari USA, in aumento del 36%, con prenotazioni per 3,9 milioni di dollari USA e un rapporto prenotazione-fatturato di 1,03.
Omni-Lite Industries reportó resultados del tercer trimestre de 2024 con ingresos de 3.8 millones de dólares EE. UU., un incremento del 14% en comparación con el año anterior, impulsado por el crecimiento en los negocios de componentes electrónicos y sujetadores. El EBITDA ajustado fue de 187,000 dólares EE. UU., una disminución con respecto a los 278,000 dólares EE. UU. del tercer trimestre de 2023, impactado por una inesperada falla en el equipo de fundición. El Flujo de Caja Libre mejoró a 636,000 dólares EE. UU., aumentando 387,000 dólares EE. UU. desde el año pasado. La empresa mantiene un balance fuerte con 2.6 millones de dólares EE. UU. en efectivo y sin deudas. Los ingresos acumulados hasta la fecha alcanzaron los 12.4 millones de dólares EE. UU., un aumento del 36%, con reservas de 3.9 millones de dólares EE. UU. y una relación de pedidos a facturación de 1.03.
Omni-Lite Industries는 2024년 3분기 실적을 보고하며, 매출은 380만 달러로 지난해 대비 14% 증가했으며, 이는 전자 부품 및 패스너 사업의 성장에 힘입은 결과입니다. 조정된 EBITDA는 187,000달러로, 2023년 3분기 278,000달러에서 감소했으며, 이는 예기치 않은 주조 장비의 고장에 영향을 받았습니다. 자유 현금 흐름은 636,000달러로 향상되어 작년보다 387,000달러 증가했습니다. 회사는 260만 달러의 현금과 무부채라는 강력한 재무 상태를 유지하고 있습니다. 연초부터의 수익은 1240만 달러에 달하며, 이는 36% 증가했으며, 예약금은 390만 달러로, 예약 대 매출 비율은 1.03입니다.
Omni-Lite Industries a annoncé ses résultats pour le troisième trimestre 2024, avec un chiffre d'affaires de 3,8 millions de dollars, soit une augmentation de 14 % par rapport à l'année précédente, grâce à la croissance des activités de composants électroniques et de fixations. L'EBITDA ajusté s'élevait à 187 000 dollars, en baisse par rapport à 278 000 dollars au troisième trimestre 2023, impacté par une panne imprévue d'équipement de fonte. Le flux de trésorerie disponible s'est amélioré, atteignant 636 000 dollars, soit une augmentation de 387 000 dollars par rapport à l'année dernière. L'entreprise maintient une solide situation financière avec 2,6 millions de dollars en liquidités et aucune dette. Les revenus depuis le début de l'année ont atteint 12,4 millions de dollars, en hausse de 36 %, avec des réservations de 3,9 millions de dollars et un ratio des réservations aux facturations de 1,03.
Omni-Lite Industries hat die Ergebnisse für das 3. Quartal 2024 veröffentlicht, mit einem Umsatz von 3,8 Millionen US-Dollar, was einem Anstieg von 14% im Vergleich zum Vorjahr entspricht, angetrieben durch das Wachstum in den Bereichen elektronische Komponenten und Befestigungselemente. Das bereinigte EBITDA betrug 187.000 US-Dollar, ein Rückgang von 278.000 US-Dollar im 3. Quartal 2023, beeinträchtigt durch einen unerwarteten Ausfall von Gießereiausrüstung. Der freie Cashflow verbesserte sich auf 636.000 US-Dollar, was einem Anstieg von 387.000 US-Dollar im Vergleich zum Vorjahr entspricht. Das Unternehmen weist eine starke Bilanz auf mit 2,6 Millionen US-Dollar in bar und keinerlei Schulden. Die Umsätze seit Jahresbeginn erreichten 12,4 Millionen US-Dollar, was einem Anstieg von 36% entspricht, mit Aufträgen in Höhe von 3,9 Millionen US-Dollar und einem Verhältnis von Bestellungen zu Rechnungen von 1,03.
- Revenue increased 14% YoY to US$3.8 million
- Year-to-date revenue up 36% to US$12.4 million
- Strong balance sheet with US$2.6 million cash and zero debt
- Free Cash Flow improved by US$387,000 to US$636,000
- Book-to-bill ratio of 1.03 indicating healthy demand
- Adjusted EBITDA declined to US$187,000 from US$278,000 YoY
- Equipment outage resulted in estimated US$150,000 negative EBITDA impact
- Reduction in casting components business
CONFERENCE CALL FOR INVESTORS
NOVEMBER 7, 2024, AT 1:00 PM EDT
Third Quarter Fiscal 2024 Highlights
- Revenue of US
$3.8 million , a14% Increase Over the Year Ago Period - Adjusted EBITDA(1) of approximately US
$187,000 - Free Cash Flow(1) of approximately US
$636,000 - Strong Balance Sheet; US
$2.6 million in Cash and No Debt Outstanding - Bookings of US
$3.9 million , Book-to-Bill Ratio of 1.03
Year To Date Fiscal 2024 Highlights
- Revenue of US
$12.4 million , an Increase of36% Over the Year Ago Period - Adjusted EBITDA(1) of US
$1.6 million , an Increase of US$1.3 million Over the Comparable Year Ago Period - Free Cash Flow(1) of approximately US
$1.6 million , a Year-over-Year Increase of US$1.0 million
TSXV: OML
OTCQX: OLNCF
LOS ANGELES, CALIFORNIA, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the "Company" or “Omni-Lite”; TSXV: OML) today reported results for the third quarter ending September 30, 2024. Full financial results are available at sedarplus.ca.
Third Quarter Fiscal 2024 Results
Revenue for the third quarter of fiscal 2024 was approximately US
Adjusted EBITDA(1) for the third quarter of fiscal 2024 was approximately US
Free Cash Flow(1) was approximately US
Bookings in the third quarter of fiscal 2024 were approximately US
Management Comments
David Robbins, Omni-Lite’s CEO, stated “Our revenue reflected continuing favorable customer demand, particularly in the aerospace sector. The bookings in the quarter continued to trend towards customers' near-term critical needs at a strong level. We are hopeful that the Company will be able to overlay some larger longer-term bookings as we head into 2025."
Financial Summary
All figures in (US
Investor Conference Call
Omni-Lite will host a conference call for investors on November 07, 2024, beginning at 1:00 P.M. (EDT) to discuss the Third Quarter 2024 results and review of its business and operations. To join the conference call, 888-437-3179 in the USA and Canada, or 862-298-0702 for all other countries. Please call five to ten minutes prior to the scheduled start time. A replay of the conference call will be available 48 hours after the call and archived on the Company’s investors page of the Company’s website at www.omni-lite.com for 12 months.
(1) Adjusted EBITDA is a non-IFRS financial measure defined as earnings before interest, taxes, depreciation, amortization, stock- based compensation provision, gains (losses) on sale of assets, and non-recurring items, if any. Free Cash Flow is a non-IFRS financial measure defined as cash flow from operations minus capital expenditures. Adjusted Free Cash Flow is a non-IFRS financial measure defined as Free Cash Flow excluding special items, among others, gains (losses) on sale of assets and non- recurring items, net of tax effects, if any. These are non-IFRS financial measures, as defined herein, and should be read in conjunction with IFRS financial measures and they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. The non-IFRS financial measures used herein may not be comparable to similarly titled measures reported by other companies. We believe the use of Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow along with IFRS financial measures enhances the understanding of our operating results and may be useful to investors in comparing our operating performance with that of other companies and estimating our enterprise.
Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow are also useful tools in evaluating the operating results of the Company given the significant variation that can result from, for example, the timing of capital expenditures and the amount of working capital in support of our customer programs and contracts. We also use Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow internally to evaluate the operating performance of the Company, to allocate resources and capital, and to evaluate future growth opportunities.
Please see Q3 2024 Management Discussion and Analysis for additional notes and definitions.
About Omni-Lite Industries Canada Inc.
Omni-Lite Industries Canada Inc. is an innovative company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies in the aerospace and defense industries.
For further information, please contact:
Mr. David Robbins
Chief Executive Officer
Tel. No. (562) 404-8510 or (800) 577-6664
Email: d.robbins@omni-lite.com
Website: www.omni-lite.com
Forward Looking Statements
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intent”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information in this press release includes, but is not limited to, the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward- looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward- looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental consents and approvals, if and when required; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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